Sweeping bank reform clears House

First time I had actually seen anything about the bill. Basically,

"The bill, which passed 223-202, imposes more oversight and stronger capital cushions for the largest banks and Wall Street firms. It forces them to pay a total of as much as $150 billion into an emergency fund that could be tapped when a troubled company needs to be taken over and broken up."

And also according to Rep. Barney Frank,

"The bailouts of AIG and Bear Stearns would be not possible -- made illegal -- under this bill," Frank said. "If a company fails, it'll be put to death."

I'm glad they decided to do something to try to prevent another financial crisis. It would stop future bailouts of companies. I was actually surprised that I just learnt about this bill, I had not yet seen it before even though this bill has very significant changes that could prevent another financial crisis. The only questions are if the Senate would pass it and if the bill would end up being effective and properly enforced.